Small Businesses Push Congress for Tax Certainty

Small businesses increased pressure on Congress on Thursday to make tax policy clearer, saying that uncertainty over possible changes to rates and deductions is preventing them from moving forward with investments.

While it is unlikely that many policies will be decided before the November presidential election, members of Congress heard concerns about the expiration of 2001 and 2003 tax cuts at the end of this year that affect high income-earning small business owners in a hearing organized by the House Subcommittee on Economic Growth, Tax and Capital Access.

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Boards and C-suite executives overwhelmingly see risk as having an important role in value creation, but just 17% of respondents say they are actively using risk to drive returns, according to a new global survey from Deloitte. The survey also found that senior stakeholders want chief risk officers to spend significantly more time playing the strategist role, with a majority of respondents saying their risk officers should participate more in setting the strategic direction of the company and aligning risk management strategies accordingly.

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